Friday, May 1, 2009

More Q&A

Sue Morello, Des Moines, Iowa writes:

Q: As a teacher, I am highly offended by your comments, Mr. Speer. How dare you depict teachers, the ones who mold tomorrow's leaders, as Socialists. Shame on you. I am a Democrat and proud of it, you old fart! We work hard for every cent we earn and we are the backbone of this country. Don't ever forget that.

A: You missed my point entirely Sue, wherein I clearly blame Federal interference for the unacceptable high school dropout rate. If your town was using its own money exclusively, parental outrage would demand any and all methods be adopted to correct this sad state of affairs—union or no—on pain of dismissal. There would be no Federal rules. Uncle Sam has nothing to offer except money, and if you and I have the money we need, we don’t need Sam in order to teach our kids. Let’s tell him to stick to what we hired him for in 1787—protect us against enemies and give us a national banking system that works.

I see no problem with your being a “proud Democrat” (even I voted for Jack Kennedy), but let’s leave Socialist dogma and political correctness to the theoreticians, and keep these unproven viewpoints out of the classrooms. If teachers must preach, then preach the American heritage of “individuality” from Boston revolt to New Orleans jazz. Yes Sue, we do have “an American culture”, warts and all, and it’s greater than that of the Chinese, Persians, Egyptians, Greeks, Romans, and Turks.

More Q&A

Jason from Memphis, TN writes:

Q: I think your ideas are great, if not a little unrealistic. As a fellow conservative, you have struck a few chords with me. I do have one question, however. What would happen with estate and inheritance taxes under your plan? And who did you vote for in the last Presidential election? If you say Obama you'll lose all credibility.

A: Jason, my 10% on everything\replacement of everything tax is exactly as advertised, and replaces all existing Federal, State, and Local taxes, assessments, fees, excises, tolls, licenses, bondings, import duties, property, estate, inheritance, gasoline, and every other form of dunning our wallets. It does it day-by-day, on pain of a 10% late penalty; freezing and eventual confiscation of assets; and 2 to 5 years of “soft” jail time. (The ‘bad guys’ are moved out to one of our unfenced Aleutian Island enclaves, to make room for white collar tax evaders, including those who compound their felony by hiring illegal aliens.)

Secondly, I haven’t voted Democrat since Jack Kennedy. Obama has all the tools for success, but is mired in failed Socialist central control philosophy, and thus unlikely to promote any measures to return schooling, infrastructure and social services to local rule. In his mind, we “local yokels” are a bunch of dummies, even though his “brain trust” has so far failed miserably in their responsibility to provide a working bank system—the collapse of which has cost us half of our 401(k) pension nest egg. But bitching and moaning serves no purpose without a comprehensive body of solutions, which I put forth in my writings.

More Q&A

George, a Wells Fargo loan officer in Denver asks:

Q: How would your so-called “10% on everything” tax affect banks and borrowers?

A: Competition for new loans would be fierce, keeping interest rates at rock bottom, because there is no tax on bank interest income. The front-end 10% tax to the borrower would be shared to some extent by Wells Fargo as a “loan acquisition cost”, and the remainder added to the borrower’s loan principal, to be paid off over the life of the loan.

For example, let’s say “Joe the Plumber”, walks into your office for a 500 grand loan to either expand his business, or buy a larger home for his expanding family. You’re an aggressive guy, so you offer to split the 50 grand tax bite 25/25, and give him a long-term (home) or short-term (business) loan at prime plus 1%--say 5%. You shake hands, and everybody goes home happy.

Uncle Sam is happy because he just made 15 grand (his 30% share); Denver City and County is happy, because they just made 30 grand (their 60% share); Joe is happy, because he has half-a-mil in cash to fund his business, or to buy his new 4-bedroom house, making his wife happy; you are happy, because you just made a 5 grand commission, making your wife happy; Wells Fargo is happy, because they will be making a net 2% profit after charging off the 25 grand loan acquisition cost and your 5 grand commission to current expense. Lastly, Wells Fargo stockholders are happy, because their investment is going gangbusters with no hidden surprises, bumping up their stock price and tax-free dividends.